There are no official restrictions on how much money you transfer into a QROPS, but it is a widely held opinion that for QROPS to be effective, you should have £25,000 to transfer as a minimum. You can combine more than one pension if you wish. If the fund is in excess of Lifetime Allowance currently £1.8 million, the excess proceeds will be taxable at the rate of 55%.
FAQ 29 – How much money should I transfer into my QROPS?
March 12, 2012 Comments (0):